00:00
Speaker A
Hyperliquid seeks US foothold through Kraton parent Hayward. Remember I told you I'd talk about them again in crypto perpetuals deal Bloomberg. Now I'm going to talk about that story first, then we'll get to the second half of this, uh in a moment. So under this proposed structure, a Hayward subsidiary, Bitnomial would provide registered US users access to selected perpetual contracts linked to Hyperliquid's market. So the reason that this is so interesting is because the day that Bitcoin skyrocketed from the mid 60s all the way to basically 80,000. We had the Basset news, then the short squeeze, and then Donald Trump gave a speech at the White House where he literally said Hyperliquid.
00:46
Speaker A
He said, I know that Mike Selig at CFTC is working very hard to onshore Hyperliquid and bring their contracts onshore. Well, now we're seeing evidence that that is possible and it's all through once again, Hayward, which is the parent company of Kraton. Bitnomial who they would do this from already operates a CFTC license exchange, clearing house and brokerage stack. So there might be a way to back door it through this.
01:10
Speaker A
Just for the size of Hyperliquid, they've processed more than 5 trillion in cumulative perpetual volume, and they currently have approximately 13.3 billion in open interest and processed roughly 205 billion during the past 30 days. Now, the problem with bringing unregulated decentralized markets onshore is this.
01:39
Speaker A
North Korean hackers are moving tens of millions on Hyperliquid as Trump pushes to onshore the crypto platform. So this is one of the things that comes with crypto is that you can't always stop the people that are using it, especially when you don't have AML and KYC. Well, North Korea's Lazarus group, the largest hackers on this planet of Earth have sold more than 30 million of Bitcoin through Hyperliquid during the past three weeks. So obviously, this is the push and pull of decentralization versus centralization and control and regulation versus something that's deregulated and everyone around the world can use.
